Yamaha Motor Co., Ltd. (the "Company") announces that the Board of Directors of the Company, at its meeting held today, decided to continue the Company's takeover defense measures (the "Plan") against attempts to acquire the Company's shares in massive numbers, in order to protect and increase the Company's corporate value and the shareholders' common interests.
The Company revised the hitherto applied Plan, by the resolution of the Board of Directors at its meeting held on February 12, 2010, and this revision was subsequently approved in essence by the shareholders at the 75th General Meeting of Shareholders held on March 25, 2010 (hereinafter "Shareholders' Meeting Approval"). The contents of the Plan has been disclosed in the "Announcement Concerning the Renewal of Takeover Defense Measure Against Attempts of Mass Acquisition of the Company's Shares (Defense Measures Against Takeover Bids)" in the press release dated February 12, 2010.
In the Plan, the effective term for the Shareholders' Meeting Approval is set as three years, during which the Board of Directors may determine the contents of the Plan on a yearly basis, within the scope authorized by the Shareholders' Meeting Approval. The basic contents of the Plan after the renewal remain identical to those decided last year.